[Execution Copy MACHINES OPERATION AND PARTICIPATION AGREEMENT (in respect of the former Chinese Restaurant area within NagaWorld) on 25 July 2009 This AGREEMENT is entered into ELIXIR GAMING TECHNOLOGIES (HONG KONG) LIMITED, ELIXIR ; a company incorporated in Hong Kong, with correspondence address at Unit 2B, 29/F., The Centrium, 60 Wyndham Street, Central, Hong Kong (“ - and - E] [ELIXIR GAMING TECHNOLOGIES, INC. Nevada 001-32161 91-1696010 (State or Other Jurisdiction of (I.R.S. Employer Identification Number) Unit 3705, 37/F, The Centrium 60 Wyndham Street Central, Hong Kong + 852-3151-3800 Not Applicable (Former name or former address, if changed since last report) o o o o]

[ELIXIR GAMING TECHNOLOGIES, INC. Nevada 001-32161 91-1696010 (State or Other Jurisdiction of (I.R.S. Employer Identification Unit 3705, 37/F, The Centrium 60 Wyndham Street Central, Hong Kong + 852-3151-3800 Not Applicable (Former name or former address, if changed since last report) o o o o]

[Monday January 4, 2010 Elixir Gaming Technologies to Present at 12th Annual ICR XChange on January 13, 2010 HONG KONG—(BUSINESS WIRE)—Elixir Gaming Technologies, Inc. (NYSE Amex: EGT) announced today that Chairman and Chief Executive Officer Clarence Chung and Senior Vice President Corporate Finance Traci Mangini will present at the 12 th Annual ICR XChange at the St. Regis Monarch Beach] [(NYSE Amex: EGT) January 13, 2010 3 Table of Contents Company Background Business Divisions Management Team Business Expansion Financial Information Investment Considerations 4 1. Company Background 1.1 Company Overview Elixir Gaming Technologies, Inc. (“Elixir Gaming” or the “Company”) operates under two business divisions. Primary business is the placement of gaming machines on a revenue share (participation) model in resorts, hotels,] [ELIXIR GAMING TECHNOLOGIES, INC. Nevada 001-32161 91-1696010 (State or Other Jurisdiction of (I.R.S. Employer Identification Number) Unit 3705, 37/F, The Centrium Central, Hong Kong + 852-3151-3800 Not Applicable (Former name or former address, if changed since last report) ¨ ¨ ¨ ¨]